Real Estate Market Update: Sales prices in Chapel Hill, Durham and Cary are on the rise. The three-year trend is excellent with median prices in Chapel Hill and Cary around the $400,000 mark. Houses in much of the rest of the Triangle, including Durham, are more affordable. Median prices in Durham, NC are about $250,000. Nationally, housing affordability remained flat for 2017.
To view homes for sale in Chapel Hill NC, visit Real Estate Experts web site.
Real Estate Market Update: Days on Market (DOM) have been are still are amazingly low. This means that overall houses are selling fast. In January, however, DOM have increased a bit. I think this is primarily due to a slightly slower start to the season and the weather. To be specific; in July 2017 Average DOM were 13 in Chapel Hill, 5 in Durham and 6 in Cary. In November 2017 this increased a bit to 33 in Chapel Hill, 8 in Durham and 10 in Cary.
In January, this has stretched out a bit more to 36 in Chapel Hill, 10 in Durham and 14 in Cary. I expect to see these numbers come down as the season heats up.
If you are looking for homes for sale in Durham NC, visit Real Estate Experts web site.
Real Estate Market Update: The supply of inventory is incredibly low. I don’t remember a time when inventory was this low. In Chapel Hill there is less than 3 months of inventory and in Durham and Cary there is less than 2 months of inventory. This is truly an excellent time to sell. If you have been sitting on the fence, with inventory low, it is a sellers market. Prices are rising. With interest rates still low, buyers are moving on the opportunity before prices rise further.
If you are looking for homes for sale in Cary NC, visit Real Estate Experts web site.
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